CryptoQuant CEO: Retail Investors Drive Up Bitcoin Demand

IconCryptoNewsTerminal Staff18 Jul, 2024

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CryptoQuant CEO: Retail Investors Drive Up Bitcoin Demand

CryptoQuant CEO Ki Young Ju tweeted that individual investors have been driving up demand for Bitcoin (BTC). This is evidenced by the increasing number of small Bitcoin transactions. Ju noted that while large Bitcoin transactions have been decreasing, those under 1 BTC have been rising. This suggests that retail investors are accumulating BTC, while institutional investors are selling. The CEO also pointed out that the number of Bitcoin wallets with non-zero balances is at a record high. This indicates that more and more people are holding BTC, which is a bullish sign for the cryptocurrency's long-term prospects.